Buying or selling a house is not as easy as it sounds. Over and above getting or paying the right value for the home, you need to follow the due process and the law. As conveyancing solicitors in Tamworth, we can help you with the process in these seven simple steps.

Conveyancing process for buying a house

Step 1 – Conveyance process for buying a house (start)

To start the process of conveyancing we will need you to contact us and we can set a meeting. We will request that you complete initial paperwork along providing us forms of identity. We can also conduct searches that you require. For this, we will request you send the funds to facilitate.

Step 2 – Receive the draft contract

Official copies (electronic deeds) property forms and other documentation related to the property and a draft contract that has been duly completed by the seller’s solicitors will be sent to us.

Step 3 – Searches and investigation of the title

In this stage, any searches that you have requested will be conducted. The received draft contract will also be reviewed and verified. In case any questions arise, we will get in touch with the seller’s solicitor who can then seek clarification. This might take some time depending on the clarifications required.

Step 4 – Report

Based on the responses to the enquiries and the searches, we will put together a report. The report will include your offer on the mortgage. Additionally, we will set the financial aspect of the transaction and offer you a statement showing the amount of money you need to pay.

Step 5 – Signing

If everything is found to be in order, we can organise the signing. The parties will agree on a completion date after which you will transfer the deposit (usually 10% of the buying price) to us to facilitate the exchange of contracts.

Step 6 – Exchange of contracts

With the exchange of contracts, the completion dates and transaction now become legally binding. We will send the deposit to the seller’s solicitor after which a request to your lender for your mortgage advance will be paid. The balance of funds due on your end should be with us at least one working day before the completion.

Step 7 – Conveyancing process for buying a house (finish)

The ‘moving day’ marks completion. Here, the full purchase price is transferred to the seller’s solicitor and keys left with the estate agent. Once the funds are received, the keys are then given to you.

Conveyancing process for selling a house

Step 1 – Conveyancing process for selling a house (start)

If you’re looking to sell your house, the process is a little different. To start the process, we will need to have a meeting and take some details of the property. We will also request that you fill out initial paperwork which contains protocol forms. The forms ask detailed questions about the property that you’re selling.

Step 2 – Contact your mortgage lender

To access the current title deeds to the property (if unregistered) and find out the balance of the mortgage that is yet to be cleared, we will get in touch with your mortgage lender.

Step 3 – Obtain documents from the land registry

We will obtain up to date copies of the electronic deeds (official copies) from the land registry.

Step 4 – Preparation of draft contract

In the fourth step, we will prepare the draft contract for the sale of the property. We will pair this with the protocol forms, the official copies and any other documentation necessary and send them to the buyer’s solicitor. It may take up to a week for the recipient to read and verify the paperwork.

Step 5 – Enquiries raised by the buyer’s solicitor

If there are any questions regarding the property, the buyer’s solicitor will address them to us.

Step 6 – Agree on a completion date

At this stage, once the buyer is content with the answers to the questions raised, a signing date will be organised. Both parties will agree on a completion date. The buyer is then required to transfer the deposit of around 10% of the buying price to their solicitor.

Step 7 – Exchange of contracts

To make the transaction and the completion date legally binding, the contracts have to be exchanged. The buyer’s solicitors will then send us the deposit for the house. Consequently, we will request a final redemption statement from your lender.

Step 8 – Conveyancing process for selling a house (finish)

On the ‘moving day’, the full balance of the sale price will be sent from the buyer’s solicitors. This marks the completion day. Once the funds are sent, you should leave the keys with the estate agent who then releases them to the new owner after we receive the money. We will then clear the pending mortgage balance and any other balances pertaining the sale of the house, then send the balance to you.

Cheap Conveyancing across Tamworth

For clients that are looking to sell or buy a new property, our services will help you to tackle the legal requirements of search a transaction at a small fee.

Kick start the conveyancing process and get a quick, instant conveyancing quote today: CLICK HERE

We have dedicated team members who cover Loughborough, Stockport, Syston, Lutterworth, Hinckley, Carlton, Hucknall,  Market Harborough, Beeston, Bulwell, Buxton, Leicester, Derby, Oadby

Other topics related to the conveyancing process:

Click on the links below to find out more about:

Buying a house

Selling a house

Right to buy

Unregistered properties

First-time buyer

Leasehold property or freehold property?

Shared ownership

New builds

Buy to let

Remortgaging